Finance for rehabilitation of Venezuela’s largest drinking water plants

(Caracas, November 29, 2011).- The government of the Bolivarian Republic of Venezuela, through Hidroven, has defined a Rehabilitation and Optimization Plan for the seven largest drinking water plants in the country. This plan is supported by CAF - Latin American development bank – which today approved a US$150 million loan to upgrade the supply, quality and reliability of supply of these services in the country.

CAF President & CEO Enrique García said "CAF supports the efforts of countries in the region to ensure that all the people, particularly low income sectors, have access to a sustainable and quality drinking water supply and sanitation services."

"Our strategy for the sector focuses on supporting its shareholders countries in structuring and financing investment programs and projects with high social and environmental impact," García said.

On the Plan, which has a total cost of US$509 million, the CAF president said its greatest impact will be to improve the quality of life and health conditions of about one third of the country's population.

The selected plants, whose operating life is between 30 and 55 years, are Alejo Zuloaga (Carabobo state), La Guairita, La Mariposa and Caujarito (Miranda state), Cordero (Táchira), Turimiquire (Sucre state) and Plant C (Zulia state).

The first phase of the plan, estimated at US$214 million, includes carrying out engineering studies of the seven plants, investment in a first group, and strengthening the management of Hidroven and its subsidiaries.